In a series of blistering tweets that started in the week leading up to the G-7 summit and continued Monday morning, President Trump has repeatedly unloaded on "dishonest and weak" Canadian Prime Minister Justin Trudeau, whom Trump's trade adviser consigned to "a special place in hell" for his "back-stabbing" over trade talks. Amid the ongoing feud, the Canadian dollar declined slightly over the weekend.
"Fair Trade is now to be called Fool Trade if it is not Reciprocal," Trump tweeted Monday morning. "According to a Canada release, they make almost 100 Billion Dollars in Trade with U.S. (guess they were bragging and got caught!). Minimum is 17B. Tax Dairy from us at 270%. Then Justin acts hurt when called out!"
But Trump wasn't done — not even close: "Why should I, as President of the United States, allow countries to continue to make Massive Trade Surpluses, as they have for decades, while our Farmers, Workers & Taxpayers have such a big and unfair price to pay? Not fair to the PEOPLE of America! $800 Billion Trade Deficit.... And add to that the fact that the U.S. pays close to the entire cost of NATO-protecting many of these same countries that rip us off on Trade (they pay only a fraction of the cost-and laugh!). The European Union had a $151 Billion Surplus-should pay much more for Military! ....Germany pays 1% (slowly) of GDP towards NATO, while we pay 4% of a MUCH larger GDP. Does anybody believe that makes sense? We protect Europe (which is good) at great financial loss, and then get unfairly clobbered on Trade. Change is coming!"
After a tweet expressing his excitement about his big trip to Singapore, Trump added one more line on trade: "Sorry, we cannot let our friends, or enemies, take advantage of us on Trade anymore. We must put the American worker first!"
On Saturday, Trump slammed Trudeau for holding a press conference after he left the summit that trade adviser Peter Navarro described as Trudeau stabbing the president in the back. In an interview with Fox News over the weekend, Navarros said, "There's a special place in hell for any foreign leader that engages in bad faith diplomacy with President Donald J. Trump and then tries to stab him in the back on the way out the door."
Trump also slammed Trudeau for the "very dishonest and weak" move, tweeting Saturday: "PM Justin Trudeau of Canada acted so meek and mild during our @G7 meetings only to give a news conference after I left saying that, 'US Tariffs were kind of insulting' and he 'will not be pushed around.' Very dishonest & weak. Our Tariffs are in response to his of 270% on dairy!"
The tweetstorm followed a week full of strong statements from Trump prompted by Trudeau's complaints about Trump's plan to impose tariffs on American steel and aluminum exports.
CBC reported Monday that amid all the harsh trade talk, the Canadian dollar slipped a little:
The Canadian dollar was trading lower Monday morning after U.S. President Donald Trump continued his attacks on Canada and Prime Minister Justin Trudeau. ...
The loonie recovered some ground to trade at 76.98 cents US on Monday afternoon, but was still down from its average value of 77.15 cents US on Friday.